Why Some Florida Homeowners Need a Flood Certificate Survey
A flood certificate shows insurance carriers the risk of water damage during a major storm. Florida’s Citizens Property Insurance Corp. will require flood insurance as part of all its new policies as of July 1, 2023. The State will extend that requirement to all existing policies on the renewal anniversary based on the dollar value of insurance coverage. The insurance program created by the Florida legislature as the insurance carrier of last resort is today the largest insurance underwriter in the state with 1.2 million customers.
Be aware that flood risk is constantly changing. Community events and surrounding construction can increase or decrease flood risk. A home built in the 70s or 80s could be reclassified as a flood risk based on current conditions.
You should reach out to Survey Data Solutions when your insurance company requests a survey. We will take care of the documentation for insurance and title companies.
What is a flood certificate?
A LOMA survey flood certificate, also known as a letter of map amendment or flood elevation certificate, is required in Florida before purchasing FEMA flood insurance. A FEM Elevation Certificate is a document completed by a surveyor that informs the homeowner, building department, title company, mortgage company, or other entities requiring the form of relevant elevations on the subject property and building. The Elevation Certificate will also include floodplain information, including Base Flood Elevation and Flood Zone.
Do I need a LOMA Survey?
We recommend buyers get an elevation and boundary survey when they purchase a new building or home. The Elevation Survey will list a building’s location, its lowest point of elevation, flood zone, and other characteristics, according to the Federal Emergency Management Agency (FEMA). It is used to enforce local building ordinances and to help determine flood insurance rates.
As noted above, Citizens Insurance is moving toward requiring flood and property insurance policies for all its customers. All insurance companies do not require flood insurance or even an elevation survey. But it is good for new property owners to check the previous flood certificate on file at the county and, based on the age of the prior survey, verify that nothing has changed on the property with a new up-to-date LOMA survey.
